Slides in this set

Slide 1

Slide 2

A man invests £2000 in a bank for 6 yearsearning 7% interest per annum. How much does he have at the end of the 6 years? 6 x 7% is 42%. 42% of £2000 is £840. £2000 + £840 is £2840. He has £2840…read more

Slide 3

That is wrong. The last method used is to solve problems with simple interest.A man invests £2000 in a bank for 6 years earning 7% interest of his original investment per year.How much does he have at the end of the 6 years?This is the problem we would be solving with the last method. A man invests £2000 in a bank for 6 years earning 7% interest per year. How much does he have at the end of the 6 years? The next slide shows how to solve this problem.…read more

Slide 4

A man invests £2000 in a bank for 6 years earning 7% interest per year. How much does he have at the end of the 6 years? Starting value £2000 1 Next year (+7%) £2140 2 Next year (+7%) £2289.80 3 Next year (+7%) £2450.08 4 Next year (+7%) £2621.59 5 Next year (+7%) £2805.10 6 Next year (+7%) £3001.46…read more